The three wise men of fiscal responsibility?
Three men 鈥� if wise enough 鈥� can reduce the federal budget deficit down to sustainable levels: President Obama, Congressman Paul Ryan, and Senator Kent Conrad.
How wise do our political and economic leaders have to be to know that the current levels of deficit spending are unsustainable?
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My boss, Bob Bixby, offers this perspective on how to achieve bipartisan compromise that would reduce the federal budget deficit down to sustainable levels. We need strong leadership from 鈥渢hree [at least potentially] wise men.鈥� From :
If [President] Obama and [incoming House Budget Committee chairman Paul] Ryan join [Senate Budget Committee chairman Kent] Conrad鈥檚 call for a summit to negotiate a joint budget plan鈥攂uilding on the solid groundwork of the two commissions鈥攖hey may be able to achieve a game-changing breakthrough. That assumes, however, that they want the game to change and that they could get other party leaders and partisan guardians and to go along with the idea.
The commissions showed that people of differing perspectives if they enter into the process with a determination to reach an agreement for the common good. Moreover, the public is willing to accept the necessary sacrifices to build a better future if they understand the magnitude of the problem and the realistic trade-offs among the options.
The missing element is political leadership. Obama, Ryan and Conrad can fill the void.
Happy Holidays! I鈥檓 not sure how often you will hear from me over the rest of 鈥渢his year鈥� on fiscal policy issues, other than my passing along other people鈥檚 wise words.
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